Written By Chris Robinson
Corn: July corn settled up 1 ¼ cents at $4.78. CZ settled up 1 ¾ cents at $4.76 ¼. For the week, July dropped 5 ½ cents and CZ dropped 5 ¾ cents. We had a pretty quiet pre-holiday, low volume trade. Bears are still cheering the 48 ¼ cent “correction” we had over the past 9 trading sessions in new crop CZ. With a relatively friendly weather forecast for the 10 day outlook, the bulls will need to come up with either a demand […]
The low yesterday in YMM was 16.310. Today’s high , so far was 16,521. 200 pts on one mini Dow is 1000 bucks. Resistance above looks to be at 16,550 and then 16,600. Today is Wednesday and we’re heading into the long Holiday Weekend.
A 200 pt rally is not that big a deal, in my opinion. Back in 1998 through 2002, we had daily 200 to 300 pt trading ranges, and we traded the whole range, sometimes twice during a 7 hour trading day.
This is one reason I get so circumspect at commentators and analysts who have no historical basis for their […]
While no technical tools are infallible (if they were we’d all be billionaires) there are some good levels below current levels in June Dow and June S&P. First start with the Dow.
Everyone for the past 6 months have been barfing all over their shoes trying to sell this market. For all the noise, we’ve really been in a trading range, albeit a wide one, for a while now. Since February, the 15,800 to 16,600 has given us an 800 pt trading range. Considering that at 16000, 100 pts is slightly more that 1/2 of a percent, we’ve had a lot of 1/2 % […]